Nigel Hollis in his blog says, ''Strong, profitable brands are meaningful to their consumers, perceived as different from the competition, and are more salient than the alternatives.''
Couple of examples from his blog,
''Chobani provides an example of how a product that delivers a noticeably different experience can overtake the competition. The company came along in 2005, after years of focus on low-fat products had left the US yogurt market vulnerable. Chobani’s brand strategy focused on the taste, texture, affordability, and authenticity of its “real” yogurt. Consumers responded enthusiastically and the brand attained mass distribution in just two years. In five years, the company held over half of the U.S. Greek yogurt market, and nearly 20 percent of the total yogurt market. By 2011, Chobani was the number-one yogurt brand in America.''
''Mini Cooper, a car that reentered the US market in 2002 after an absence of 30 years. Younger, more non-traditional car buyers were attracted to the unique brand appeal of the Mini’s compact size, fuel efficiency, and fun, sporty performance. The company relies on clever stunts (challenging a Porsche to a race), event marketing (annual road trips for owners), and offbeat outdoor advertising to stand out in a crowded marketplace and appeal to the non-traditional consumer base. As a result, Mini has grown from one to seven available models at 119 dealers in 38 US states. Sales in the US have eclipsed those in the UK, and the company posted a 26 percent increase in 2011 and 15 percent increase in 2012. Mini’s well-defined and targeted purpose clearly made a clear impact on the bottom line.''
His suggestion is, ''Everything you do in business builds your brand for good or ill, as your actions generate feelings, associations, and ideas in the minds of your consumers. The challenge is to make sure those actions create a meaningfully different experience that people want to repeat. This is because people are predisposed to choose things that stand out from the crowd. A brand’s difference gives consumers an easy rationale for choosing it, and a ready justification for paying a price premium. Research by Millward Brown finds that brands with a meaningful difference command a price premium 13 percent higher than weaker category alternatives.''
Couple of examples from his blog,
''Chobani provides an example of how a product that delivers a noticeably different experience can overtake the competition. The company came along in 2005, after years of focus on low-fat products had left the US yogurt market vulnerable. Chobani’s brand strategy focused on the taste, texture, affordability, and authenticity of its “real” yogurt. Consumers responded enthusiastically and the brand attained mass distribution in just two years. In five years, the company held over half of the U.S. Greek yogurt market, and nearly 20 percent of the total yogurt market. By 2011, Chobani was the number-one yogurt brand in America.''
''Mini Cooper, a car that reentered the US market in 2002 after an absence of 30 years. Younger, more non-traditional car buyers were attracted to the unique brand appeal of the Mini’s compact size, fuel efficiency, and fun, sporty performance. The company relies on clever stunts (challenging a Porsche to a race), event marketing (annual road trips for owners), and offbeat outdoor advertising to stand out in a crowded marketplace and appeal to the non-traditional consumer base. As a result, Mini has grown from one to seven available models at 119 dealers in 38 US states. Sales in the US have eclipsed those in the UK, and the company posted a 26 percent increase in 2011 and 15 percent increase in 2012. Mini’s well-defined and targeted purpose clearly made a clear impact on the bottom line.''
His suggestion is, ''Everything you do in business builds your brand for good or ill, as your actions generate feelings, associations, and ideas in the minds of your consumers. The challenge is to make sure those actions create a meaningfully different experience that people want to repeat. This is because people are predisposed to choose things that stand out from the crowd. A brand’s difference gives consumers an easy rationale for choosing it, and a ready justification for paying a price premium. Research by Millward Brown finds that brands with a meaningful difference command a price premium 13 percent higher than weaker category alternatives.''
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